BlackBerry (NYSE:BB) Announces Earnings Results

BlackBerry (NYSE:BB) announced its earnings results on Thursday. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02, Zacks reports. BlackBerry had a negative net margin of 25.80% and a negative return on equity of 6.43%. The business had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $138.82 million. During the same period in the prior year, the company earned ($0.06) earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year.

BlackBerry Price Performance

BlackBerry stock opened at $2.52 on Friday. The company has a market cap of $1.49 billion, a P/E ratio of -8.69 and a beta of 1.39. BlackBerry has a one year low of $2.01 and a one year high of $4.90. The business has a fifty day moving average of $2.35 and a two-hundred day moving average of $2.60. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.43 and a current ratio of 1.43.

Analysts Set New Price Targets

Several analysts have commented on the company. Canaccord Genuity Group reduced their price objective on BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a research note on Thursday, June 27th. TD Securities cut their price target on BlackBerry from $3.00 to $2.75 and set a “hold” rating for the company in a research note on Thursday, June 27th. Raymond James decreased their price target on BlackBerry from $5.50 to $4.75 and set a “market perform” rating for the company in a report on Friday, June 28th. Robert W. Baird dropped their price objective on shares of BlackBerry from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Finally, Canaccord Genuity Group reduced their target price on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.20.

About BlackBerry

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.